The New York Knicks‘ firing of Tom Thibodeau came as a shock, as his three-year extension would have kicked in next season.
According to SNY’s Ian Begley, the Knicks will pay Thibodeau a substantial amount of money even after his firing.
“Worth noting: Knicks owe Tom Thibodeau at least $30 million guaranteed on his recently signed extension, per sources. Also worth noting: NYK won a playoff series in 3 straight years under Thibodeau: from 2001 to 2020, they won just 1 series. He built a winning foundation here,” Begley wrote on X.
Knicks owner James Dolan isn’t new to doling out boatloads of money after messy breakups with his coaching and executive hires.
In 2006, Dolan paid Larry Brown $18.5 million in a settlement after the legendary coach was fired with still four years, $40 million remaining on his contract.
In 2017, Dolan also paid Phil Jackson $20.5 million after firing him as team president three years into his five-year, $60 million contract.
The move to fire Thibodeau came as a shock to everyone, according to ESPN’s Shams Charania.
“My phone is blowing up right now with executives, everyone around the league just stunned,” Charania said on “SportsCenter” after breaking the news. “But every player on this next roster, you felt like overperformed. … But clearly the Knicks did not feel like Tom Thibodeau was going to be the coach to take them over the top.”
Thibodeau leaves the Knicks as their fourth all-time winningest coach with 226 wins, trailing only Jeff Van Gundy (248), Joe Lapchick (326) and two-time champion coach Red Holzman (613).
The Knicks made the playoffs in four of Thibodeau’s five years at the helm. He is also the first coach to guide the Knicks to consecutive 50-win seasons since Pat Riley in the 1994-95 season.
Tom Thibodeau’s Groomed Successor is Betting Favorite
Getty Associate head coach Johnnie Bryant of the Cleveland Cavaliers is the betting favorite to succeed Tom Thibodeau as the New York Knicks head coach.
When Thibodeau got the Knicks coaching job, Johnnie Bryant was brought in to become his top assistant despite having no prior relationship with the veteran head coach. At the time, Bryant was an up-and-coming coach who was being groomed to become a head coach. The move was seen in league circles as a potential backup plan in case the Thibodeau hiring goes awry.
But as the Knicks succeed under Thibodeau, Bryant left the Knicks and joined the Cleveland Cavaliers under Atkinson in a lateral move but one that reunited him with Donovan Mitchell.
The 39-year-old rising tactician started as a player development coach with the Utah Jazz in 2012. There, he forged strong relationships with the franchise stars Gordon Hayward and Mitchell, who was once Knicks trade target.
Now, Bryant is the odds-on favorite at +240 to succeed Thibodeau, per offshore online sportsbook Bovada.
However, the Knicks may be running against time as Bryant is also one of the two finalists in the Phoenix Suns coaching search.
Jay Wright Not Inclined to Coach Knicks
GettyJay Wright (center) is being mentioned in Knicks rumors as a candidate to be the team’s next coach.
College hoops analyst Seth Davis doused cold water on some of the Knicks’ fans dream of having Jay Wright coach his former Villanova players — Jalen Brunson, Josh Hart and Mikal Bridges — with the Knicks.
“I have been working with Jay Wright on TV for three years,” Davis wrote on X in the aftermath of Thibodeau’s firing. “Based on every conversation we have had, I would say there is a greater chance that I will be the next Knicks coach than him.
“The difference is if they call me, I will say yes.”
Wright retired from college coaching in 2022 after 21 seasons with the Wildcats, whom he guided to two national titles.
Hart (2016), Brunson and Bridges (2016 and 2018) were on those Villanova championship teams.
Like Heavy Sports’s content? Be sure to follow us.
This article was originally published on Heavy Sports
The post Knicks’ Firing of Tom Thibodeau Costs a Fortune: Report appeared first on Heavy Sports.